So the largest financial services company in the world looks to be on tap for yet another government bailout. If you recall, BoA received a $25B
capital injection in October courtesy of the American taxpayer via TARP. Apparently that wasn't quite enough.
Between BAC's growing troubles necessitating another bailout and Citigroup's nosedive in recent days, is it any wonder that the second half of the
TARP funds were hurredly requested this week?
online.wsj.com
(visit the link for the full news article)
U.S. Negotiating More Aid for Bank of America , page 1
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Topic started on 14-1-2009 @ 05:20 PM by anachryon
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U.S. Negotiating More Aid for Bank of America
online.wsj.com
The U.S. government is close to committing billions in additional aid to Bank of America Corp. as the nation's largest bank by assets tries to digest its Jan. 1 acquisition of Merrill Lynch & Co., according to people familiar with the situation.(visit the link for the full news article)
The discussion began in mid-December when Bank of America, already the recipient of $25 billion in federal rescue funds, told the U.S. Treasury Department it was unlikely to complete its purchase of the ailing Wall Street securities firm because of Merrill's larger-than-expected losses in the fourth quarter, according to a person familiar with the talks.
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